Oasis Looks Beyond North Dakota to Permian Basin
Oasis Petroleum Inc, the last major oil producer operating exclusively in North Dakota's Bakken shale formation, is heading south to the nation's largest oilfield, pursuing a pricey expansion as investors worry about maturing shale fields. Oasis shares have tumbled 21 percent following last week's disclosure…
Oasis Petroleum to buy Permian Assets
Oil and gas producer Oasis Petroleum Inc said on Monday it would buy 20,300 net acres in the Delaware Basin from privately-held Forge Energy LLC for about $946 million. Oasis said it will would buy the acreage, which produced 3,500 barrels of oil equivalent in November, in cash and stock.
US Shale Eases Into Detente with OPEC as Supply Cut Extended
U.S. producers applauded Thursday's decision by the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers led by Russia to extend output cuts until the end of 2018. Texas and North Dakota - the two largest U.S. shale-producing states - described it as a boon for their producers.
BP Midstream Partners Seekup to $893 mln in IPO
BP Midtsream Partners, a unit of British energy company BP Plc, said on Monday it expects to raise up to $893 million from its initial public offering. BP Midtsream expects to sell 42.5 million shares, excluding underwriters' option, at a suggested price range of $19 to $21 each…
North Dakota Output to Rise as DAPL Opens
North Dakota oil production will get a shot in the arm next month as a pipeline comes online despite opposition by environmental groups and Native Americans, allowing the energy industry to save at least $540 million in annual shipping costs. The Dakota Access…
U.S. Shale Back in Business, Buoyed by OPEC, Trump
U.S. shale producers are redeploying cash, rigs and workers, cautiously confident the energy sector has turned a corner after Donald Trump's election victory and OPEC's recent signal that it plans to curb production. The downturn produced a leaner, more efficient U.S.
SM Energy to buy Permian Basin Stake
SM Energy Co said on Tuesday it would buy 35,700 net acres in West Texas's Howard and Martin counties for about $1.6 billion and sell its Williston Basin assets in North Dakota for $785 million to Oasis Petroleum Inc. SM Energy has been trying to boost its presence in the Permian basin…
US Oil Drillers Cut Rigs for 8th Week to Oct 2009 Lows
U.S. oil drillers cut rigs for an eighth week in a row to the lowest level since October 2009, oil services company Baker Hughes Inc said Friday, even with futures at six-month highs as some energy firms focus on completing wells rather than drilling new ones.
Energy Firm's Buck Decline With Equity Offerings
More than a dozen companies in the hard-hit exploration and production energy industry have announced new share offerings this year - and have generally been rewarded in the stock market for the strategy. Although it might seem that companies would upset their…
US Shale Oil Producers Pummeled after OPEC Decision
Shares of U.S. shale oil producers tumbled on Friday after OPEC failed to agree on a unified output cap, effectively letting its 13 members pump at will in a step likely to further depress prices and advance the group's aim of squeezing out U.S. rivals. OPEC…
U.S. Shale Producers Prepare to Slash 2016 CapEx
U.S. shale oil producers, having slashed fat from 2015 budgets after a 50-percent drop in crude prices, risk cutting to the bone next year as they pare spending further and get ready for a prolonged downturn. Top shale companies including Devon Energy Corp…
U.S. Shale Outfits Shine Amidst Gloom
A handful of U.S. shale oil producers are pushing up their production forecasts, saying efficiency gains from drilling in prime rock are helping them eke out more crude in the middle of the worst price crash in six years. The slightly bolder outlooks this week from Oasis Petroleum Inc…
Oasis Petroleum Plug North Dakota Oil Well Blowout
Oasis Petroleum Inc said on Tuesday it successfully killed a North Dakota well that had leaked oil, saltwater and natural gas since a blowout last weekend. Oasis crews pumped more than 33,000 gallons of a bentonite clay and water mixture down the well and plugged it. The well is now permanently shuttered.
Occidental's North Dakota Deal Changes Oilfield Landscape
Occidental Petroleum Corp's move to sell its North Dakota acreage likely removes a logjam that had impeded U.S. oilfield deals for much of the year, though the deal's price sets an unusually low bar for future deals and gives buyers the advantage over sellers.
US Oil Producers Mull Wastewater Spin-offs
Some U.S. oil producers are trying to sell parts of their lucrative saltwater disposal businesses in a sign that cheap crude is already forcing cash-starved companies to sell assets so oil can keep flowing. Many oil companies rely on outside contractors, which tend to be small…
North Dakota Oil Producers Aim to Cut Radioactive Waste Bills
North Dakota's oil industry is pushing to change the state's radioactive waste disposal laws as part of a broad effort to conserve cash as oil prices tumble. The waste, which becomes slightly radioactive as part of the hydraulic fracturing process that churns up isotopes locked underground…
North Dakota $5.3 billion Oil Tax Break Looms
Tumbling U.S. oil markets hit an important if obscure milestone on Thursday, closing for the first time at a price that could trigger a $5.3 billion, two-year tax break for North Dakota oil drillers as soon as next summer. Under a decades-old law, the state at the heart of the U.S.
Oasis Petroleum's 2015 CapEx to Halve
Oil producer Oasis Petroleum Inc's capital budget will nearly halve next year as global crude prices plunge. The company said it expected to spend $750 million-$850 million in 2015. Of its 2014 budget of $1.43 billion, Oasis had spent $1.1 billion as of Sept. 30. Reporting by Kanika Sikka
Oasis Petroleum Expects to Cut Spending if Oil Stays below $80/brl
North Dakota oil producer Oasis Petroleum Inc will cut capital spending and limit spending to core wells if crude oil prices stay below $80 per barrel for an extended time, executives said on Wednesday. The company, considered a "pure-play" investment the second-largest oil producing state by Wall Street…
